Become a member Register now
Coming soon: xMas 
Special
Special
Special
|
HANOI, VIETNAM – Media OutReach Newswire – 19 December 2024 - Vietnam continues its robust efforts to implement the European Commission's (EC) recommendations for combating illegal, unreported and unregulated (IUU) fishing, with a commitment to securing the removal of the 'IUU yellow card' in the coming months. Following the EC's fourth inspection in October 2023, the government of Vietnam has maintained close oversight in addressing IUU fishing practices. The Secretariat issued a directive to strengthen Party leadership in combating IUU fishing and fostering sustainable fisheries development on April 10 2024. The government of Vietnam has instructed ministries, agencies and localities to focus on rectifying shortcomings in the management of fishing vessels and cracking down on IUU violations, including VMS disconnection and illegal fishing in foreign waters. It has also introduced revised decrees to regulate seafood imports from container vessels, impose stricter penalties for fishing beyond designated zones and deploy six means and technical techniques for administrative enforcement in the fisheries sector. The Ministry of Agriculture and Rural Development of Vietnam has amended regulations to address no registrations, no checks, no licenses fishing vessels. On June 12 2024, the Supreme People's Court issued a resolution guiding the application of specific Criminal Code provisions to penalise those facilitating illegal fishing in foreign waters. Vietnam has identified and documented its nationwide fishing fleet, totalling 84,752 vessels, of which 77,717 are registered. Among 15 metres or longer vessels, 98.62 per cent have installed vessel monitoring systems (VMS) and 98 per cent have been marked for compliance. The offshore fishing license quota for 2024–2029 has been announced, with 29,552 permits issued. Local authorities have compiled and managed lists of high-risk vessels, ensuring rigorous monitoring through vessel monitoring systems, port entries, and dock operations. Specialised agencies have also tightened regulations on seafood traceability. For domestically harvested seafood, authorities have implemented and required localities to report and update the daily output of aquatic products unloaded at fishing ports via Google Sheets for monitoring. An electronic traceability system (eCDT) has been established to ensure transparency and legality in certifying, verifying and tracking the origins of seafood exports. As of now, 80 fishing ports and landing points have adopted these measures. For imported seafood, new regulations have been rolled out to control products brought into Vietnam via container vessels in accordance with Article 70a and updates under the Port State Measures Agreement (PSMA). To date, the EC has recognised Vietnam's progress in enforcing regulations to monitor imported seafood, highlighting full compliance with PSMA requirements. Moreover, Vietnamese authorities have intensified law enforcement efforts to address IUU fishing, yielding significant outcomes. 12 criminal cases were prosecuted, involving falsification of documents, manipulation of VMS, illegal departures and brokering activities that facilitated the deployment of fishing vessels for illegal operations in foreign waters. Additionally, 4,237 administrative violations in the fisheries sector have been penalised, amounting to over VND109 billion in fines. Of which, since the beginning of this year, authorities have handled 3,387 administrative violations, imposing fines exceeding VND75 billion, an increase of about 30 per cent year-on-year. Violations related to VMS alone accounted for fines of over VND38 billion, while 21 cases of illegal fishing in foreign waters resulted in fines totalling VND23 billion. Minister of Agriculture and Rural Development, Le Minh Hoan, emphasised to the European Commission (EC) that combating IUU fishing remains a core priority for Vietnam's fisheries sector. It is not solely aimed at ensuring compliance for seafood exports to the European Union but also serves to promote sustainable aquaculture and fisheries, reflecting Vietnam's responsibility and maintaining its global reputation. Vietnam also considers the issue of 'yellow card' as an opportunity to foster more sustainable fishing practices. Through its ongoing efforts, the country is optimistic about the EC's timely removal of the 'yellow card' warning. The issuer is solely responsible for the content of this announcement.  News Source: MARD
19/12/2024 Dissemination of a Financial Press Release, transmitted by EQS News. |
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
